The Public Finance Ministry raised on Thursday RON 500 million from banks through a benchmark government bond issue with a residual maturity of 159 months and an average yield of 7.31 ppa, shows data published by the National Bank of Romania (BNR).
The face value of the issue was RON 500 million, and banks submitted bids worth RON 704.6 million.
An additional bidding session is scheduled for Friday, through which the state wants to raise another RON 75 million at the yield set on Thursday for the bonds.
The Finance Ministry was planning to borrow this November from commercial banks RON 5.7 billion, to which RON 795 million can be added through additional sessions of non-competitive bids, related to bond auctions.
The total amount of RON 6.495 billion exceeds by 95 million the RON 6.405 billion planned for October and will be used to refinance the public debt and the state budget deficit.
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